RT Journal Article
SR Electronic
A1 Kouba, Luděk
T1 Discussion on the conclusions of the Neoclassical Growth Theory and the New Growth Theory and the alternative explanation for the different economic performance
JF Acta Universitatis Agriculturae et Silviculturae Mendelianae Brunensis
YR 2014
VO 53
IS 3
SP 251
OP 256
DO 10.11118/actaun200553030251
UL https://acta.mendelu.cz/artkey/acu-200503-0024.php
AB The paper in the first instatnce resumes the conclusions of the most important contemporary growth approaches - the Neoclassical Growth Theory and the New Growth Theory. In the third part there are discused crucial aspects of the both growth approaches and are mentioned some empirical arguments. The final part of this paper presents three conclusions: the challenge to validity of the New Growth Theory. The question about the basic traditional growth theory assumption that individual economies occur the production possibility frontier. And finally the conviction that the necessary condition for the succesful economic development is the right institutional system.